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  • Published Date

    April 17, 2019
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3.75% 0 The time is now, let's get cooking! HOUSING Member FDIC Home Equity Line Of Credit With rates rising, lock in this low rate for 24 months CA BankCherokee Contact us today! 651.227.7071 or at BankCherokee.com BankLocal. BankCherokee. 13.75% Introductory Annual Percentage Rate (APR) is available for Home Equity Lines of Credit (HELOC) up to 80% LTV (loan to value). The interest rate will be at 3.75% APR during the 24 month introductory period. Offer is available for applications submitted from April 1st- June 28th, 2019. After the 24 month introductory period, the APR is variable and is based upon an index plus a margin. The APR will vary with the Prime Rate (the index) as published in the Wall Street Journal. As of March 27, 2019, the variable rate for Home Equity Lines of Credit was 5.50% APR, the minimum floor rate. The rate will not vary above 21.75% APR or below 5.50% APR. Minimum loan amount increase on an existing HELOC is S10.000. Closing costs generally range from 350-S11300. Loans are subject to credit approval and program guidelines. BankCherokee checking account required for automatic payment. Property insurance is required and must be owner occupied. Consult your tax advisor regarding the deductibility of interest paid. Other restrictions may apply.